Apollo Therapeutics, a biopharmaceutical company focused on translating fundamental medical research into medicines, has raised more than £180 million in Series C financing.

The Cambridge firm welcomes multiple new investors, including M&G plc and two of the largest US public pension plans, along with existing investor Rock Springs Capital. Patient Square Capital led the round.

It had previously raised $195m.

Apollo has a scalable R&D platform for the evergreen discovery and development of new medicines. It says program selection is agnostic to indication and primarily driven by quality of science and the potential to transform the standard of care in major commercial markets.

This is enabled by an unprecedented level of access to world-class research institutions through unique partnership agreements with the likes of The University of Cambridge, Imperial College London, University College London, King’s College London and The Institute of Cancer Research.

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Proceeds will be used to advance some of its 20 current programs through clinical development and further fund its drug discovery and development activities based on breakthroughs in basic medical research.

It will also look to license or acquire additional clinical stage programs that meet strict selection criteria.

“We are delighted to announce the close of our latest fundraise and wish to thank our existing investors for their continued support, as well as warmly welcoming all the new investors,” said CEO Dr Richard Mason.

“Apollo has built a broad and diversified pipeline focused on major commercial markets and this latest fund-raising enables us to take our most advanced programs to key clinical value inflection points.”

Jim Momtazee, managing partner of Patient Square Capital and a member of Apollo’s board of directors, added: “I have long believed in a business model for drug development characterised by extremely talented management, sufficient capital to pursue multiple programs and world-class science focused on unmet medical need. 

“We are proud to support Apollo Therapeutics as it develops a number of promising medicines that we anticipate will eventually transform patient care.”

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